Doing well with money isn’t necessarily about what you know. It’s about how you behave. And behavior is hard to teach, even to really smart people.
Money - investing, personal finance, and business decisions - is typically taught as a math-based field, where data and formulas tell us exactly what to do. But in the real world people don’t make financial decisions on a spreadsheet. They make them at the dinner table, or in a meeting room, where personal history, your own unique view of the world, ego, pride, marketing, and odd incentives are scrambled together.
In The Psychology of Money, award-winning author Morgan Housel shares 19 short stories exploring the strange ways people think about money and teaches you how to make better sense of one of life’s most important topics.
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Being “good with money” might seem like a question of intellect, but as financial expert Morgan Housel explains in this illuminating listen, wealth has more to do with the heart than with the head. With an approachable style, Housel gets into just how much of the way we save, spend, and invest has to do with our emotional behaviors rather than our savvy with numbers. Then, by applying lessons from history, psychology, and politics to everyday life, he offers practical strategies for how we can change those behaviors and make better choices. We really connected with the way Housel explores concepts like luck and risk, not to mention the compelling stories he uses to illustrate his points (like why so much of Warren Buffett’s impressive net worth came after his 65th birthday). Narrator Chris Hill has a smooth cadence that’s a great match for Housel’s intimate approach. Get ready to understand your relationship with money on a whole new level.
Morgan is the financial Shakespeare of our generation. Soon to be regarded as a must read book for ever investor. The next ‘intelligent investor’ except actually useful for everyone, from hedge fund managers to your grandma.
A must read for those who are in the pursuit of wealth.